People race all sorts of things at the Olympics, just not cars. While most people seem to think it doesn't require an athlete to race a car, it does require someone with lightning fast reflexes, the strength and toughness to withstand huge g-forces, a mind for strategy, endurance, and a lightweight, fit body. If that doesn't sound like an athlete we don't know what does.
Presumably, that's why the Olympic Committee has chosen to recognize the FIA, the governing body behind most motorsport, for a provisional two years. This doesn't mean that the next Olympic event will feature rallycross, but it is a big leg up for motorsport as a whole. Perhaps the 2020 Olympics will have a bit of open-wheel racing for us to enjoy.